StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Investment analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $5.75 price target on shares of Sirius XM in a research report on Tuesday, April 30th. Guggenheim initiated coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and decreased their price target for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.42.

Sirius XM Stock Performance

Shares of SIRI opened at $3.08 on Tuesday. Sirius XM has a 52 week low of $2.92 and a 52 week high of $7.95. The stock has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $4.52. The firm has a market capitalization of $11.85 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.02 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. Sirius XM’s revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that Sirius XM will post 0.31 earnings per share for the current year.

Insider Transactions at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Northern Trust Corp increased its holdings in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the period. Louisiana State Employees Retirement System bought a new position in Sirius XM in the 4th quarter worth about $1,669,000. Norden Group LLC purchased a new stake in shares of Sirius XM in the 4th quarter valued at about $80,000. TIAA Trust National Association boosted its position in shares of Sirius XM by 92.9% during the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock valued at $218,000 after acquiring an additional 19,161 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Sirius XM by 16.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after purchasing an additional 3,495 shares in the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.